Air T (NASDAQ:AIRT) Stock Price Breaks Below 200 Day Moving Average – Here’s Why

Air T, Inc. (NASDAQ:AIRT) crossed below its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $26.29 and traded as low as $25.63. Air T shares last traded at $25.91, with a volume of 54,456 shares trading hands.

Analyst Ratings Changes

Several research firms recently commented on AIRT. Wall Street Zen upgraded Air T to a “sell” rating in a research report on Saturday, September 19th. Weiss Ratings upgraded shares of Air T from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, October 6th. One investment analyst has rated the stock with a Hold rating. Based on data from MarketBeat, the company has a consensus rating of “Hold”.

Air T Price Performance

The company has a debt-to-equity ratio of 3.55, a current ratio of 1.43 and a quick ratio of 0.61. The company’s 50 day moving average price is $29.92 and its 200 day moving average price is $26.29. The firm has a market capitalization of $69.44 million, a P/E ratio of 1.10 and a beta of 0.21.

Air T (NASDAQ:AIRT) last issued its quarterly earnings results on Friday, August 14th. The transportation company reported ($5.86) earnings per share for the quarter. Air T had a net margin of 17.17% and a return on equity of 176.42%. The company had revenue of $115.46 million during the quarter.

Hedge Funds Weigh In On Air T

A hedge fund recently bought a new stake in Air T stock. BlackRock Inc. bought a new stake in Air T, Inc. (NASDAQ:AIRT) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,583 shares of the transportation company’s stock, valued at approximately $121,000. BlackRock Inc. owned 0.17% of Air T at the end of the most recent quarter. Institutional investors and hedge funds own 8.90% of the company’s stock.

Air T Company Profile

Air T, Inc is a holding company that operates through businesses serving the aviation and air transportation industries. Founded in 1980, the company is based in Maiden, North Carolina, and has historically built its operations around air cargo transportation and aviation support services.

Through its air cargo subsidiaries, including Mountain Air Cargo, Inc and CSA Air, Inc, Air T provides regional overnight freight and feeder services, primarily under contractual arrangements with FedEx.